OVERSEA CHINESE BANKING Corp Ltd Raises Position in Palantir Technologies Inc. (NASDAQ:PLTR)

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 358.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,660 shares of the company's stock after purchasing an additional 68,521 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Palantir Technologies were worth $7,399,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after purchasing an additional 6,479 shares during the period. Pitcairn Co. purchased a new position in Palantir Technologies in the fourth quarter valued at $281,000. Sagespring Wealth Partners LLC lifted its holdings in Palantir Technologies by 36.3% during the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after buying an additional 6,405 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Palantir Technologies during the 4th quarter worth about $52,033,000. Finally, CX Institutional purchased a new stake in Palantir Technologies during the 1st quarter worth about $62,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 33,335 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total value of $4,510,558.85. Following the sale, the insider owned 363,755 shares of the company's stock, valued at approximately $49,219,689.05. This represents a 8.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the sale, the insider directly owned 702,786 shares in the company, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,452,297 shares of company stock worth $186,222,373. 9.23% of the stock is owned by insiders.

Palantir Technologies Stock Up 2.0%

Shares of PLTR traded up $3.08 on Thursday, reaching $153.99. The stock had a trading volume of 60,015,005 shares, compared to its average volume of 83,260,510. The firm has a market capitalization of $363.40 billion, a PE ratio of 669.52, a PEG ratio of 12.68 and a beta of 2.59. The firm has a 50-day moving average of $132.92 and a 200 day moving average of $105.08. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $155.65.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The company's revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 EPS. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PLTR shares. Morgan Stanley lifted their price target on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Citigroup lifted their price target on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Finally, DA Davidson boosted their target price on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $91.37.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.